Category: Bitcoin Analysis

BlackRock says bitcoin returns likely to come down

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If you’re looking for your bitcoin to go to the moon, the window of opportunity may be slowly closing, according to BlackRock. That does not mean it has hit its ceiling or that there will not be rallies. However, as the cryptocurrency becomes more mature and institutionalized with the advent of exchange-traded funds, the days of its monster gains may become a thing of the past, according to Robert Mitchnick, BlackRock’s head of digital assets. “Certainly, returns going forward will come down,” he said at the Bitcoin Investor Day conference…

Bitcoin Price Reclaims $70K And Signals Fresh Surge To $75K

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Bitcoin price is rising and now trading above $70,000 resistance zone. BTC could continue to rise toward the $73,000 and $75,000 levels in the near term. Bitcoin price remained in a positive zone above the $66,500 level. The price is trading above $70,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $67,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if it clears the $71,200 resistance zone. Bitcoin Price Restarts…

Blackrock says bitcoin will be a good portfolio diversifier despite its recent rally with stocks

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Bitcoin is more like digital gold than a so-called “risk-on” asset, according to Robert Mitchnick, BlackRock’s digital assets lead. For years, bitcoin’s ability to behave in different ways at different times has stumped investors . They believed the idea that it might be a hedge against inflation only to see the cryptocurrency tumble with stocks in 2022 amid sky high inflation and rate hikes – and then rally again as signs of cooling began to show. BlackRock’s Mitchnick, speaking at the Bitcoin Investor Day conference in New York City Friday,…

These are the stocks most correlated to moves in bitcoin

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Some expected — and unexpected — names are joining the bitcoin frenzy. As bitcoin has rallied to all-time highs in recent weeks, turbulent crypto currencies have regained some relevance among traditional investors. These actions have also had a ripple effect among some stocks tied to trading digital currencies — as well as a handful of names some may not have anticipated. CNBC Pro screened to find the stocks that have moved most in line with bitcoin over the last 50 trading days. We looked at the relationship between the stocks…

ETFs have brought more short-term volatility to bitcoin but may help long-term

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A big selling point of bitcoin exchange-trade funds was their potential to reduce bitcoin’s notorious volatility over time. But what’s happened so far is that big swings are back in the world of cryptocurrency. Just look at last week. Bitcoin climbed to an all-time high —its first record in more than two years — only to quickly fall by as much as 10% before bouncing back up to yet another new record. The bitcoin 30-day historical volatility index has been sitting at its highest levels in 11 months as leverage…

Why recent rallies in bitcoin, gold may be related

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The bitcoin rally was catalyzed by microeconomic factors at the end of 2023, but may have recently fused into the more macroeconomic-fueled gold rally, according to Wolfe Research. The yellow metal is up 5.7% in March, which accounts for most of its 6% gain over the past month. On Friday, it hit record highs for a fourth consecutive session. Bitcoin has also been trading at record highs this week, after hitting new all-time highs on both Tuesday and Friday. It’s up 8% in March. Bitcoin’s positive price performance initially was…

Bitcoin is set to make another run at the record and could rally to $98,000, according to chart analyst

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Bitcoin charged to new highs on Tuesday, but then retreated about 14%, sending a scare into the market. Since then the price has stabilized. I think the two most important questions are will bitcoin retest the $69,000 high and ultimately blast through? And if so, what are the catalysts to justify the outlook for higher prices? I’ve been following the bitcoin story for 10 years now, opened my first Coinbase account back in 2014 and bought bitcoin at $330. No, I don’t still have them. I’ve followed and traded it since…

These crypto trades are having big years as bitcoin hits a record high

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Bitcoin’s push to a record high on Tuesday has been part of a broader rally in 2024, with other cryptocurrencies and investment vehicles tied to bitcoin surging along with it. Start with the arrival of bitcoin exchange-traded funds, which is often pointed to as one of the sparks of the crypto rebound. The price of bitcoin has climbed about 48% since Jan. 11, when the ETFs first launched, according to Coin Metrics. The ETFs have seen similar gains. IBIT 1M mountain Bitcoin ETFs, like iShares’ IBIT, have surged over the…

Bitcoin tops $65,000 as it nears 2021 all-time high

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Jaap Arriens | NurPhoto | Getty Images The price of bitcoin rose to start the week, edging even closer to its all-time high after the rally took a breather over the weekend. The flagship cryptocurrency was last higher by 3.7% at $65,127.00, according to Coin Metrics. Earlier, it rose to as much as $65,606.17, its highest level since November 2021. Ether advanced 1% to $3,508.24. Both coins are coming off their best week in almost a year (bitcoin gained about 21% and ether 16%) but paused their run over the…

Investors should tread carefully in March after bitcoin’s rally to $60,000

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With bitcoin on a hot streak this past week, investors should brace themselves for a cooling in March. The flagship cryptocurrency exploded in the final week of February, which ended as the best month since 2020 . It started the week around $50,000 on Monday and leapt above $62,000 by the end of the week —just 10% below its November 2021 all-time high of $68,982.20. “The recent price action seems too quick and too big to sustain over the next month,” said Yuya Hasegawa, crypto market analyst at Japanese bitcoin…